Are scholarships really worth applying for?

"Are scholarships really worth applying for?" submitted by SchoolGrantsfor Editorial Team and last updated on Monday 9th January 2012

If you doubt the value of scholarships and wonder if they are worth applying for, take a look at what it might mean if you received a $3,000 scholarship over 4 years.

A scholarship at $3,000 a year for 4 years or $12,000 converted to a loan at the interest rate of 8.25% to be paid back over 10 years would have payments of $147 a month with interest of $5,662 for a total of $17,662. That is a lot of money!

Just think if you could eliminate that much debt by getting a scholarship.

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